24 Hrs
Source:
Los Angeles Times
Dodgers owner to acquire $6.5B assets
Mark Walter, owner of the Los Angeles Dodgers, is involved in a regulatory investigation concerning his affiliated insurance companies, Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., which are subject to federal and state probes over related-party loans. These loans, totaling billions of dollars and linked to entities associated with Walter and his holding company TWG Global, have raised concerns about potential conflicts of interest and regulatory compliance. As part of efforts to address these issues, Walter’s holding company plans to purchase up to $6.5 billion in assets from Delaware Life, pending approval from regulators. The investigation has also led to the sale of Walter’s majority stake in the Lakers, and he is exploring additional ways to raise funds, including possibly selling his stake in Chelsea FC.
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